Costco Wholesale Co. (NASDAQ:COST) announced a quarterly dividend on Wednesday, July 15th, RTT News reports. Shareholders of record on Friday, July 31st will be paid a dividend of 0.70 per share by the retailer on Friday, August 14th. This represents a $2.80 dividend on an annualized basis and a yield of 0.85%.
Costco Wholesale has a payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Costco Wholesale to earn $9.26 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 30.2%.
Shares of COST opened at $328.00 on Thursday. The stock has a market cap of $144.82 billion, a P/E ratio of 39.23, a P/E/G ratio of 4.62 and a beta of 0.68. The stock has a 50-day moving average of $307.02 and a two-hundred day moving average of $304.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.63 and a current ratio of 1.11. Costco Wholesale has a one year low of $262.71 and a one year high of $329.32.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.03). The company had revenue of $36.45 billion during the quarter, compared to analyst estimates of $36.66 billion. Costco Wholesale had a net margin of 2.31% and a return on equity of 22.60%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. Analysts predict that Costco Wholesale will post 8.46 EPS for the current fiscal year.
Several brokerages have recently issued reports on COST. Telsey Advisory Group reissued a “buy” rating and issued a $330.00 price objective on shares of Costco Wholesale in a report on Thursday, July 9th. Oppenheimer boosted their price objective on Costco Wholesale from $335.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Morgan Stanley boosted their price objective on Costco Wholesale from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Deutsche Bank upped their price target on Costco Wholesale from $297.00 to $298.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Finally, Atlantic Securities started coverage on Costco Wholesale in a report on Monday. They issued an “overweight” rating and a $375.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $326.70.
In other news, VP Timothy L. Rose sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $308.05, for a total value of $1,848,300.00. Following the completion of the sale, the vice president now directly owns 23,680 shares in the company, valued at $7,294,624. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roland Michael Vachris sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $300.95, for a total value of $1,203,800.00. Over the last quarter, insiders have sold 36,380 shares of company stock valued at $11,379,079. 0.22% of the stock is owned by company insiders.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
Recommended Story: Price-Sales Ratio
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.